Grunnrentebeskatning og investeringer i havbruksnæringen : En analyse av grunnrenteskattens virkning på investeringer

Abstract

This master thesis explores implications of the taxation of resource rent on investments in Norwegian aquaculture. The study aims to investigate the impact on companies´ investment decisions as a result of the introduction of resource rent tax. To examine these effects, we have formulated a two-folded research question: How will the introduction of a resource rent tax affect investments in the aquaculture industry? i) How does the resource rent taxation influence investment decisions in the aquaculture industry? ii) What can be expected regarding the level of investments in the aquaculture industry in the future due to the introduction of the resource rent tax? To address the research question, we have used both qualitative and quantitative methods. We have conducted in-depth interviews with companies in the industry. Additionally, quantitative data from external sources and information from the interviewees were analyzed to validate and assess the gathered information. Finally, a forecast for investments in the industry was developed based on a comprehensive evaluation of information and data from the interviewees and the conducted analyses. The findings indicate that the investment level in the industry is likely to decrease due to the tax. This is driven by slower capital accumulation in the companies, disparities in tax design, and variations in willingness to pay for growth permits. The degree to which the investment level decreases depend on various factors, with the predominant factor being the outcome of the evolving transfer pricing regime within the companies We start this thesis by presenting the aquaculture industry in Norway. Subsequently, relevant theory is reviewed, followed by an exploration of previous research and aspects of the debate on resource rent tax. The resource rent tax, as formulated in the May 2023 agreement, is then presented. The methodology of the study is outlined, and the results, analyses, and discussion are conducted thereafter. Lastly we present our conclusions.